Core Viewpoint - Shenzhen Tiansu Measurement and Testing Co., Ltd. is set to undergo an IPO review on October 16, 2025, as a comprehensive independent third-party measurement and testing service provider in China [1] Group 1: Company Overview - Established in 2009, Tiansu Measurement received CNAS accreditation in June 2011 and specializes in measurement calibration, testing, and certification services [1] - The company has obtained a total of 133 patents, including 43 invention patents, showcasing its commitment to technological innovation [2] Group 2: Financial Performance - Tiansu Measurement's revenue from 2022 to the first half of 2025 was 597 million, 726 million, 800 million, and 409 million respectively, with net profits of 84.39 million, 101 million, 111 million, and 55.58 million [2] - The revenue from the battery testing business grew from 52.54 million in 2022 to 113 million in 2024, reflecting a compound annual growth rate of 46.75% [4] Group 3: Strategic Business Development - The company has expanded its battery testing capabilities significantly, establishing 84 battery testing projects and over 2,000 testing channels by June 2025 [3] - Tiansu Measurement has developed a service model that integrates measurement calibration, battery testing, quality certification, and technical research [3] Group 4: IPO Fundraising Plans - The company plans to raise 424 million through the IPO, allocating 128 million for enhancing measurement testing capabilities at its Shenzhen headquarters, 175 million for regional laboratory construction, 31.67 million for digital center development, and 90 million for working capital [4] - The enhancement project at the Shenzhen headquarters aims to expand laboratory space, acquire new testing equipment, and recruit specialized personnel to improve service capabilities [4]

Core Insights - The core viewpoint of the articles is that the after-market for electric vehicles (EVs) is rapidly emerging as a significant growth area, driven by increasing vehicle ownership, policy support, and evolving consumer demands for maintenance and services related to the "three electric systems" [1][4][5]. Market Dynamics - The after-market for EVs is characterized by a shift from traditional fuel vehicle maintenance, focusing on the "three electric systems" (battery, motor, and electronic control) [1][3]. - The number of electric vehicles in China has surpassed 20 million, creating a robust demand for after-market services [4]. - The after-market is becoming increasingly competitive, with various players including manufacturers, battery companies, and third-party service providers entering the space [1][2]. Policy and Growth Projections - The Ministry of Commerce is working to eliminate restrictive measures in the after-market, which is expected to unleash consumer potential [1][4]. - According to a report by CCID Consulting, the total scale of China's EV after-market is projected to exceed 1.9 trillion yuan (approximately 290 billion USD) by 2024, with a forecasted growth rate of 25% annually, potentially reaching 3.9 trillion yuan (approximately 580 billion USD) by 2027 [4][5]. Service and Technology Trends - New energy vehicle manufacturers are increasingly focusing on after-market services, including battery maintenance and repair, to lock in customers and create additional revenue streams [2][3]. - The complexity of the "three electric systems" requires specialized knowledge and technology, leading to a demand for skilled technicians in the after-market [6][7]. Challenges and Recommendations - The after-market remains fragmented with low industry concentration, and many independent service providers struggle to access critical data and technology from manufacturers [6][7]. - There is a need for industry standards to facilitate data sharing and improve service quality, as well as collaboration between manufacturers and educational institutions to address the skills gap [7][8].

Core Insights - Ningde Times aims to establish Ningjia Service as its third growth curve, focusing on the burgeoning after-market for new energy vehicles (NEVs) [1][3] - The after-market for NEVs is experiencing significant challenges, particularly with high battery replacement costs, which can exceed the price of a new vehicle [1] - The market for NEV after-market services is projected to grow substantially, with estimates suggesting it will exceed 1.9 trillion yuan in 2024 and surpass 3.9 trillion yuan by 2027, reflecting an average annual growth rate of 25% [2] Group 1 - Ningjia Service launched a CTP repair service that significantly reduces battery replacement costs from approximately 100,000 yuan to between 10,000 and 20,000 yuan, although this service is currently limited to Ningde Times batteries [2] - The company has over 1,100 service outlets in 75 countries, with more than 800 located in China, providing various services including battery testing, maintenance, and recycling [2] - The shift towards high energy density batteries has led to increased complexity in repairs, resulting in a maintenance dilemma where battery packs are often replaced rather than repaired [1][2] Group 2 - Ningde Times leverages its advantages in battery technology and market presence to create a closed-loop ecosystem for battery production, usage, recycling, and regeneration [3] - The company envisions expanding its after-market services beyond vehicle repairs to include charging, battery swapping, and other innovative business models [3] - Competitors in the NEV after-market include third-party service providers and major automotive parts companies, indicating a competitive landscape [2]

Core Insights - Ningde Times' independent aftermarket brand, Ningjia Service, celebrated its first anniversary and the tenth anniversary of Ningde Times' after-sales business in Shanghai, launching flagship experience centers in Shanghai and Bangkok [1][3] - Ningjia Service has established a network of over 1,100 service stores across 75 countries and has a parts warehouse exceeding 370,000 square meters [4] Group 1: Brand Development and Expansion - Ningjia Service was upgraded from Ningde Times' after-sales service department established in 2015 and has expanded to seven cities in China, with Bangkok as its first overseas location [3] - The brand has launched a free battery inspection campaign to attract consumers [1] Group 2: Service Offerings and Innovations - Ningjia Service provides a comprehensive service system covering battery detection, maintenance, and recycling, utilizing self-developed professional equipment [3][4] - The company offers a CTP repair service using original parts from Ningde Times, ensuring lower costs compared to full battery replacements [4] - A non-destructive testing device is being developed to detect internal battery damage without disassembly, expected to be launched by the end of this year [4][6] Group 3: Lifecycle and Sustainability Initiatives - Ningjia Service integrates a battery health assessment system with 45 online analyses and 28 offline tests to extend battery life and identify potential issues [6] - The company has established a "72-hour rapid recycling" network in collaboration with its partner, Bangpu Recycling, enhancing the green recycling chain [8] - Training bases for new energy professional detection and maintenance have been set up in 18 provinces, training over 8,600 industry professionals [9] Group 4: Industry Context and Future Outlook - The new energy sector in China is at a critical turning point for large-scale development, with increasing demand for advanced service systems to meet the needs of electric vehicle users [9] - Ningjia Service aims to drive high-quality development in the new energy aftermarket by focusing on customer needs and technological innovation [9]

Core Viewpoint - Star Cloud Co., Ltd. has signed a strategic cooperation agreement with Ganfeng Lithium's subsidiary to create an ecosystem covering solid-state batteries, battery testing, and energy storage systems [1][2] Group 1: Strategic Cooperation - The cooperation aims to leverage the technological advantages of both companies in key segments of the lithium battery industry, highlighting their complementary business systems and development models [2] - The collaboration will focus on solid-state battery development, lithium battery testing, energy storage systems, smart manufacturing, and integrated solutions for solar energy storage and testing [2] Group 2: Technological and Product Development - Star Cloud has established a comprehensive testing technology system that spans the entire battery lifecycle, demonstrating a leading advantage in testing technology and smart manufacturing [1] - Ganfeng Lithium has developed over 30 products across five major series, including power, energy storage, digital, wearable, and solid-state lithium batteries, maintaining a leading position in various advanced technologies [1] Group 3: Future Prospects - The partnership is expected to unlock greater potential in technological breakthroughs, market expansion, and the implementation of green energy transition projects, with plans for deeper and broader future cooperation [2]